Exeon Processors expands
Exeon Processors and its predecessor have operated a wire reclamation facility for more than three decades in Jonesboro, a city with fewer than 2,000 residents. It was great news when Exeon opened a new production line next to its existing plant and added fifteen employees in 2020. Forty-four people are now employed at Exeon.
First Merchants Bank and Indiana Statewide CDC provided the Small Business Administration’s 504 loan to help Exeon buy new equipment. Steve Lundergan, Exeon’s vice president and General Manager says, “The 504 loan is more cost effective for us, and the process was excellent and timely.” First Merchants Bank’s Bill Needler says, “Exeon is an important corporate citizen in Grant County and a perfect example of how this SBA 504 loan program helps create new jobs.”
The City of Jonesboro and the Grant County Economic Growth Council also assisted Exeon by providing property tax abatement. Mayor Bob McNutt says, “Jonesboro is happy to work with a such a quality company in helping make this investment a reality.”
Exeon Processors describes itself as a “wire chopper.” The company buys used insulated copper wire and bare copper items and removes the insulation and other extraneous material. Exeon sources millions of pounds of cathode and copper scrap for cable and electronics manufacturers in the United States.
Contact: Tim Eckerle | teckerle@grantcounty.com | (765) 662-0650
